SEATTLE -- The bruised economy has taken another hit, and this time it's the boating industry that's sinking.

There are 270,000 registered boats in Washington state, where boating is a way of life.

But after factoring in the cost of fuel, payments, insurance and slip fees during these trying times, more boaters are finding that it's a way of life they can live without.

Holly Laprease loved her yacht when she bought it three years ago. These days she keeps it in ship shape for potential buyers. She and her husband can no longer justify the payments.

"We've had it for two summers and only used it four times last year," said Holly Laprease. "It just doesn't make sense to keep a boat that we don't use. The payments and the cost is outweighing the pleasure that we receive from it."

Laprease is just one among a fleet of boaters trying to get out of the water. Boat sales were down 20 percent in the start of the year, and brokers predict sales could take another dip before summer's end. For-sale signs are up at most marinas, and brokers have pages of listings to show.

The slowdown brought on a heavy financial burden that even one industry giant could not handle. The Redmond-based Olympic Boat Center is one of the biggest boat dealers in the world, but it recently claimed bankruptcy, claiming it owes at least $100 million. And the company isn't the only one in troubled waters.

"Some of the dealers, they have inventory they wish they could move. And the factories have made more boats than the dealers can consume because the dealers can't sell those on," said Michael Campbell, who runs the Seattle Boat Show.

Campbell admits the show's 60,000 visitors might have fewer boats to browse, even though it would be foolish for any boat dealer to miss the show.

"A person would have to be in a really difficult place to not be at the show and expect to continue to be in business in 2009," he said.

Those who can afford to stay in the water aren't talking their boats as far. At $5 per gallon of diesel and $5.09 for unleaded, filling up a tank could easily cost hundreds of dollars. That's one more reason Laprease's dream of owning a boat is about to set sail.

"Even Donald Trump said the worst investment you can make is to buy a boat," she said.

The flip side to this downturn in the boating industry is that it's a great time to buy a boat. Many who listed their boats online or in the paper said they're willing to make a deal.

Olympic Boat Centers said it is committed to protecting the interests of customers, creditors and employees, and hopes to emerge from bankruptcy soon.